CBRE Investment Management and Dutch insurance and pension provider NN Group have acquired a new-build residential complex consisting of 100 rental homes in Amsterdam from property developer You'RE Development.
Terms of the acquisition were not disclosed. The transaction is being conducted through the Positive Impact Programmatic Venture, an NN Group initiative focused on energy-efficient and affordable homes, with CBRE IM managing the venture.
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Also known as project NW48, the development is located on Naritaweg in Amsterdam on the site of a former indoor climbing hall and within walking distance of the Amsterdam Sloterdijk train station.
As You'RE Development aims to build Paris-proof developments, the complex, designed by Moke Architecten, is set to offer a blend of rental housing and commercial space and is aiming for an A+++ energy rating, BREEAM-NL In-Use Excellent certification and Carbon Risk Real Estate Monitor alignment.
The scheme includes 94 midmarket rental homes offering an average floor space of 60 square meters, five private-sector rental homes providing about 93 square meters of floor space, and one social rental home. In addition to housing, the development will also include nine commercial units ranging from 30 square meters to a larger hospitality unit of 185 square meters for various businesses.
Midmarket rental homes in the new complex will be offered first to entrepreneurs renting business space there to combine living and work under one roof.
“In this way, we are further giving concrete substance to social ambitions and climate objectives, and we are showing how we can achieve impact through our investments,” Marieke van Kamp, head of private markets at NN Group, said in a statement. Construction for the development at Naritaweg is set to begin this month.
Launched in April 2022 with an initial equity commitment of €500M, PIPV is part of NN Group’s wider goal of increasing investments in climate solutions by at least €6B by 2030. The first acquisition made through the venture was a forward-funding agreement for Lighthouse, a residential asset in Eindhoven
The venture has committed to an 80% reduction in landlord-controlled greenhouse gas emissions and 100% renewable electricity by 2030 and net-zero operational emissions by 2035. Every asset acquired by PIPV must be at least 10% more energy-efficient than the Dutch Nearly Zero Energy buildings standard.
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